Historic Old City Building Purchased by Hotel Chain

It appears the historic Lafayette Building in Old City may become a hotel.

KYW’s Pat Loeb reports a buyer has been found for the building. The Kimpton hotel chain is known for converting historic buildings into luxury hotels and the Lafayette building would certainly fit the bill.

The 11-story, 195-thousand foot building sits catty-corner from Independence Hall. It’s been vacant for three years, something Old City District executive director Graham Copeland says has been a disadvantage:

“It really was a drag in the district to have a large building, right across from Independence National Park, that was unoccupied so we’re really pleased to have a new hotel coming to town.”

The building was listed for $15-million but the purchase price is not known. Kimpton officials could not be reached for comment.